Impact Of Emerging Markets On Marketing : Rethinking Existing Perspectives And Practices

1074 WordsJan 28, 20175 Pages
CHAPTER 1 INTRODUCTION Research on emerging markets is not just a “nice thing to do”; it is increasingly becoming a necessity. (Jagadish N Seth, 2011). In his article titled, “Impact of Emerging Markets on Marketing: Rethinking Existing Perspectives and Practices” published in Journal of Marketing, 2011 he has specified the importance of academic research for understanding Emerging Markets. Emerging markets are those lower-incomes but rapid-growth countries that are using economic liberalization as their primary engine of growth, and these fall into two groups: developing countries in Asia, Latin America, Africa, and the Middle East and transition economies in the former Soviet Union and China (Hoskisson et al. 2000). Early research…show more content…
2015; Michaelidou et al. 2015; Morgeson III et al. 2015).The research in emerging markets helps in understanding the consumer behaviour . There are many research articles that explore the differences in the impact of marketing strategies in the developed and emerging markets, including advertising appeals (Zarantonello et al. 2014), product-market strategies (Wei et al. 2014), use of internet and social media (Berthon et al. 2012), loyalty management programs (Kumar et al. 2013) and the role of product innovation (Sok et al. 2015). Most of the papers show differences in the way these marketing actions and strategies affect consumers in the developed and emerging markets. The consumers and marketers in the emerging markets for who they are and not necessarily compare them with those in the developed markets, such as the emergence of a global cultural identity (Strizhakova et al. 2012), role of country-market characteristics (Bahadir et al. 2015), the growing importance of new middle-class consumers (Kravets and Sandikci 2014) and the differences in attitudes towards local and international brands (Tanusondjaja et al. 2015). With more and more foreign companies planning to invest in emerging markets there is a clear need to not only further extend but also develop a conceptual framework to guide and structure the rapidly growing

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